2008-07-20 16:58:13 - Venezuela's privately-owned mining sector will announce a wide-ranging proposal to reform the country's out-of-control mining industry at the 64th Annual Meeting of the Federation of Chambers of Industry & Commerce (Fedecamaras) to be held in Maracaibo from July 23 to 25.

VHeadline Venezuela News reports:

The organizers say that the mining sector can only see a complete lack of government policy for the industry and they are urging a National Plan to facilitate the involvement of relevant authorities in a coordinated and efficient manner conditional upon investment plans and clear-cut initiatives, with legal assurance and most importantly "social dialogue" with government

ministries to establish concrete policies and sustainability as well as opening up the industry to domestic and foreign investment.

Mining industry leaders say that, over a number of years, the industry has attempted to draw the government's attention to the importance of establishing an efficient government policy on mining and at the Maracaibo convention they will reiterate the demand as well as the urgent necessity to intervene between the Environment (MinAmb) and the Basic Industries & Mining (Mibam) ministries on a series of conflicts which only hamper the development of the mining industry. They say that unnecessarily convoluted red-tape and tortuous permit approval mechanisms, combined with inter-ministerial bickering, has prevented the development of a series of projects that have fully complied with all mining and environmental legislation.

The industry believes that a detailed exploration and geological evaluation of certified reserves and analyses determining the feasibility of their exploitation will determine mining to be the second largest source of foreign exchange earnings for Venezuela after its gigantic reserves of crude oil. They add that there is absolutely no need for further legislation on mining since all concerned recognize sustainable benefits to the Venezuelan State implied in the 1999 Mines Act which remains in force.

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